Financial Statements

Consolidated balance sheet on an EEV basis

At 31 December 2007

	2007 £m	2006 £m
Assets
Value of in-force Life & Pensions business	1,870	2,031
Intangible assets	684	665
Property and equipment	81	80
Investment properties	2,371	2,426
Investment in associates and joint venture	14	15
Deferred tax assets	55	-
Financial assets	47,710	45,150
Deferred acquisition costs	12	11
Reinsurance assets	2,015	98
Current tax assets	4	30
Insurance and other receivables	672	647
Cash and cash equivalents	4,782	3,581
Total assets	60,270	54,734

Liabilities
Insurance contracts	13,607	13,762
Fund for future appropriations	464	439
Financial liabilities
– Investment contracts	36,823	32,451
– Loans and borrowings	3,090	2,045
Net asset value attributable to unit holders	909	941
Provisions	243	187
Deferred tax liabilities	231	166
Current tax liabilities	113	116
Insurance payables, other payables and deferred income	571	559
Total liabilities	56,051	50,666

Equity attributable to:
Ordinary shareholders of the parent	3,647	3,520
Minority interest	572	548
Total equity	4,219	4,068
Total equity and liabilities	60,270	54,734